ETHEREUM has fallen bellow the $1,000 mark as regulatory rumblings in China and South Korea sent the price falling. However, Ethereum is expected to recover with the underlying technology seen as more robust than its rivals.

Cryptocurrency price: A year in charts

Bitcoin climbed back above $10,000 Thursday for the first time in two weeks

9.12am - UPDATE - Not just bitcoin, blockchain falls under the microscope

Ethereum is down to $960.

The underlying technology of digital currencies is coming under increasing scrutiny.

The Shenzhen stock exchange said yesterday that it would punish companies that speculate on blockchain technology.

The exchange said on its website that it had taken supervision measures on 17 companies, including share trade suspensions to review the causes for unusual share price movements, clarification on companies’ involvement in blockchain technology and potential impacts on their bottom lines.

Chinese regulators have taken a series of steps to clamp down on financial risks associated with virtual currency trades.

A Chinese central bank official said authorities should ban centralised trading of virtual currencies as well as individuals and businesses that provide related services.

8.53am - UPDATE - Crash latest

Could ethereum get caught up in the discussion on global crypto regulation?

Shuhei Fujise, chief analyst at Alt Design says that, “Cryptocurrencies could be capped in the current quarter ahead of G20 meeting in March, where policymakers could discuss tighter regulations.”

8.25am - UPDATE - 'Pyramid scheme'

Wells Fargo chairman and CEO Dick Kovacevich said that he believes bitcoin is a scam and a “pyramid scheme” amid a continuing demand for the cryptocurrency.

"This doesn't come as a massive shock. It is just the volatility you’d expect from a revolution, the kind of volatility that has been missing from equities for years. No need to hit the panic button if you are a long term holder, but if you are a trader, a fall to $6000 is not impossible."